Rising costs prompt retirees like Alisa Newman to leave Florida

Florida has long been a favored destination for retiring Americans, but some residents, like Alisa Newman, are choosing to leave. Newman, who moved to Miami in 1997 due to her husband's job, has decided to relocate at the age of 58.

Newman acknowledges Florida's retirement-friendly perks such as no state income tax and year-round sunshine but is also aware of its drawbacks. The increasing heat is one significant issue. "As I’m getting older, I’m not doing well with it," she says. "At 6 a.m., it’s 80 degrees and humid."

Additionally, hurricanes have become more frequent and severe. In Coral Gables, where Newman resides, storms often cause prolonged power outages. In 2017, Hurricane Irma caused significant damage to her home. "The storms are getting worse and worse," she notes.

Rising insurance costs have compounded these issues. Home insurance rates in Florida have increased by 102% since 2021—three times the national average. Mark Friedlander from the Insurance Information Institute told Fox13: "We’re going to see double-digit increases again in 2024." Newman shares that her home insurance costs $10,100 annually despite discounts for hurricane windows and a burglar alarm.

Car insurance and living expenses have also surged. Since millions moved to Florida during the COVID-19 pandemic, home prices have escalated significantly. HOA fees have nearly doubled following the Champlain Towers South condo collapse in Surfside.

Newman plans to move to Wilmington, Delaware for retirement. She cites walkability and cultural attractions as key factors in her decision. "I drove around, and there were some really nice places to walk," she says.

Delaware offers proximity to cities like Philadelphia and Boston via Amtrak and access to historical towns in Pennsylvania and Maryland. Additionally, it will be easier for Newman to visit her college-age children in Connecticut and Baltimore as well as her elderly parents in Manhattan.

Politically, Newman feels more aligned with the Northeast's blue politics compared to Miami-Dade County's shifting landscape.

She has purchased a townhome in Pike Creek Valley's Overlook at Linden Run development by Eddy Homes. Despite construction delays attributed to increased county requirements, she expects delivery by the first quarter of 2025.

While leaving Florida might seem ironic for someone planning retirement, Newman believes it's the right choice given current conditions in the state.

"It will be so wonderful not to have to worry about that," she concludes regarding future hurricane seasons.